Most Popular
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Korea added to key bond index
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South Korean author Han Kang wins 2024 Nobel Prize in literature
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North Korea notifies UN Command of plans to fortify border with South
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Will Apple quit smart ring race with Samsung?
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[KH explains] Will CATL’s Korean push reshape battery alliance with Hyundai, Kia?
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[Breaking] South Korea's Han Kang wins 2024 Nobel literature prize
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More deaths in ICU following doctors' mass walkout: lawmaker
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Security issues to take center stage at ASEAN summit
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[Herald Interview] Byun Yo-han embraced voice of powerless in ‘Snow White Must Die – Black Out’
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North Korea already cut off inter-Korean roads in Aug.: JCS chief
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Diageo begins sales of Smithwick’s ale
Diageo Korea said Sunday it began official sales of Smithwick’s, an Irish red ale with a 300-year tradition.The modern craft beer was launched in Korea for the first time in the Asian market in a bid to rev up sales of premium beers, the company said.Smithwick’s has won seven gold medals from the Monde Selection, a top quality institute that tastes and tests consumer products, for its rich ale flavor and refreshing taste.Unlike lager, which uses only carbonic acid, Smithwick’s uses what is calle
April 15, 2012
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Samsung to launch new OLED TV at IFA
DUBROVNIK, Croatia ― Samsung Electronics announced Saturday that it would unveil a differently-designed OLED television at the upcoming IFA consumer electronics trade show in Berlin in August.Michael Zoeller, Samsung’s European marketing director, said that it will showcase an “OLED TV with improved design,” stating that it would be different from the one already shown at the Consumer Electronics Show in Las Vegas in January.“We will show another OLED TV that has a pretty new design concept,” he
April 15, 2012
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LG to open Silicon Valley R&D center
LG Group said Sunday that it will open a new research and development center within Silicon Valley, California, on Monday, aiming to maximize synergy among its tech affiliates and expand its North American presence. With the new location in the U.S., the group said that it has completed R&D bases in all key markets, including Europe, the Middle East, Africa and the Commonwealth of Independent States. According to the group, the LG Technology Center of America will accommodate some 20 researchers
April 15, 2012
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Hyundai Motor sets up electronic control system firm
Hyundai Motor Group said Sunday it completed the registration of a newly established electronic control systems company named Hyundai Autron, which will design electronic control software and semiconductors.Hyundai Autron aims to secure its own technologies for designing automotive electric and electronic systems, non-memory semiconductors, software, electromagnetic controllers and telecommunication standardization.Korean carmakers have depended on imports for electronic control systems and auto
April 15, 2012
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Korea imported no oil, gas from its overseas fields: inspection board
South Korea has imported no oil or natural gas from any of the overseas fields it controls, despite having poured a total of 16 trillion won ($14.1 billion) to secure these assets, the country's audit and inspection agency said Saturday.The Board of Audit and Inspection announced, after reviewing the status of 17 overseas crude and gas production operations up till July 2011, that the country imp
April 14, 2012
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Korea pledges nuclear industry overhaul
Korea on Friday proposed a sweeping overhaul of its nuclear industry to shore up its global competitiveness and restore public confidence in one of its biggest sources of electricity. The plan, sketched out by the Ministry of Knowledge Economy, focuses on notching up safety of the country’s 23 reactors and rooting out recurrent breakdowns that stoked jitters in light of the Fukushima meltdown in 2011. The measures were also designed to facilitate the government’s ambition to boost atomic power t
April 13, 2012
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Hanwha opens solar energy think tank in U.S.
Hanwha Group has launched a research institute on solar power in the U.S. to develop related technologies and boost its charge into the fledgling industry, the Korean corporation said Friday.Hanwha Solar America in Silicon Valley in California will carry out research programs on photovoltaic cells and other next-generation technologies, the group said. The conglomerate runs two similar institutes in Korea and China. “Our ongoing investment in solar energy depicts the group’s firm belief and conf
April 13, 2012
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BMW recalls for faulty battery connections
BMW Korea is recalling nearly 19,800 cars due to flawed battery cables that could cause fires, the country’s Transportation Ministry said Thursday.The recall applies to 17 models of its 5 Series and two each from the 6 Series and M Series manufactured between April 2003 and March 2010, according to the local unit of the world’s largest premium automaker.The announcement comes on the heels of the Munich-based group’s largest-ever recall in late March involving about 1.3 million vehicles for a pot
April 12, 2012
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Philip Morris slashes superslim cigarette prices
Philip Morris International Korea said Thursday it plans to lower the prices of its Virginia Slims brand by almost 14 percent to better compete with other superslim cigarettes. Starting April 23, the Virginia Slims will be sold at 2,500 won ($2.20) a pack, down from the current 2,900 won, the Korean unit of the U.S. tobacco giant said. The Esse, the top-selling ultraslim cigarettes by KT&G Corp., also has the same price tag. Its 17 varieties together control about 80 percent in the segment here
April 12, 2012
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Spot oil bourse draws tepid support
Korea’s oil spot market hit a snag just two weeks after its launch as refiners, traders and vendors appear lukewarm about the electronic bourse aimed at boosting transparency and competition in the local petrol market. Since March 30, a mere 10 transactions have been at the Korea Exchange, the completed country’s bourse operator, with trading volumes staying at 300,000 liters. Only 120,000 liters of gasoline was sold via four deals, which were initiated by importers. The trading scheme is the la
April 12, 2012
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LG Uplus vows to set LTE global standard
LG Uplus CEO Lee Sang-chul said Thursday that the company will set the global standard for the fourth-generation Long Term Evolution service, adding that the competition has just started. His ambitious comment came after the distant third-place market player recently secured more than 1.6 million LTE subscribers, the highest growth rate among the nation’s three telecom carriers in the first quarter of this year, the company said. “We have completed the world’s first nationwide LTE network on ou
April 12, 2012
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POSCO, Google rev up info-tech collaboration
POSCO CEO Chung Joon-yang agreed with Google Inc. executive chairman Eric Schmidt to strengthen long-term cooperation for technological development by combining the IT giant’s innovative technologies with the steelmaker’s business capacities.The two met during Chung’s return visit to Google headquarters in San Francisco on Tuesday, following up on a memorandum of understanding the companies signed in November to share info-tech and corporate values after Schmidt’s visit to POSCO. POSCO said Thur
April 12, 2012
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Mobile carriers under growing pressure to cut rates
Both ruling and opposition parties pledge rate reduction to court voter supportA mobile rate cut is a campaign promise made by political parties every election year. Regardless of their political ideology, parties pledge rate cuts to lure voters in a nation where the penetration rate of smartphones is nearing 50 percent. This year’s parliamentary election to form the National Assembly ended Wednesday and the presidential election will take place in December. Apparently mindful of the elections,
April 12, 2012
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Yeosu corporate pavilions to show present, future of industries
Seven global companies showcase new technologies, offer vision for futureSeven major Korean companies are preparing to open their own pavilions at the Expo 2012 Yeosu which runs from May 12 through August 12. The individual corporate pavilions will be packed with fun yet educational experience-oriented contents that present cutting-edge technologies and insights for the future, say the firms.Hyundai Motor Group is seeking to express its new corporate vision “Together for a better future” at its
April 12, 2012
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Yeosu Expo to feature diverse exhibits, performances
Visual shows, hi-tech entertainment accompany displays by 105 countries and 10 organizationsNewly built facilities for exhibitions and performances are being unveiled in April, a month ahead of the opening of Expo 2012 Yeosu for a three-month run in the southern coastal town. Spectators will be able to view thousands of exhibitions and performances in addition to thematic landmarks with a single Expo ticket that costs 33,000 won for adults on a standard day. Discounts are available online until
April 12, 2012
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Johnson & Johnson fined $1.1b in Risperdal case
LITTLE ROCK, Arkansas (AP) -- An Arkansas judge fined Johnson & Johnson and a subsidiary more than $1.1 billion Wednesday for downplaying and concealing risks associated with the antipsychotic drug Risperdal, a ruling that could affect dozens of pending lawsuits over the drug.Circuit Judge Tim Fox ruled that Janssen Pharmaceuticals Inc. and its parent company must pay $5,000 for each of 240,000 Ri
April 12, 2012
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Top three shipbuilders find new growth engine in offshore plants
Development of components, equipment needed to maximize profits, analysts sayKorea’s three big shipbuilders are focusing on winning orders for global offshore plants and related manufacturing projects, a business they deem lucrative.Industry sources said the offshore plant business appears to be a new growth engine for Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries.Backed by the Ministry of Knowledge Economy and the Ministry of Land, Transport and
April 11, 2012
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Martin Wiktorin named CEO of LG-Ericsson
LG-Ericsson said Tuesday that it named the current chief strategy officer Martin Wiktorin as the new chief executive of the joint venture between Korea’s LG Electronics and Sweden’s Ericsson.The 47-year-old joined Ericsson in 1994 after receiving a master’s degree in electronics engineering at Lulea University in Sweden. He led the radio systems division in Eastern Europe and served as vice president of system solutions in Ericsson China. He worked for nine years in China alone. Since the estab
April 11, 2012
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Work-related illness confirmed for former Samsung worker
A former Samsung Electronics employee has become the first industrial accident case at the South Korean tech giant as her illness was recently confirmed to be linked to her work on the company’s chip assembly lines. The Korea Workers’ Compensation and Welfare Service said Tuesday that it has approved a compensation claim filed by a 37-year-old woman who has been suffering from aplastic anemia. Aplastic anemia is a blood disorder in which the bone marrow doesn’t make enough new blood cells. Some
April 11, 2012
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Casino mogul eyes investment in Korea
MACAU ― Las Vegas Sands, the world’s largest casino operator, is looking to invest in Korea as it expands business in booming Asian tourism and resort markets. “Korea has the need to increase tourism, it has need to create a convention-based MICE business model that is our specialty,” Las Vegas Sands chairman and CEO Sheldon Adelson said in an interview with Korean reporters in Macau.“We want very much to invest multi-billion dollars into integrated resorts in two locations. One in Seoul or perh
April 11, 2012